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the government fears contagion. it starts doing naughty things. this is limiting how much those folks can take out once they can get out the money. it is enacting sweeping measures that are raising eyebrows worldwide. banks rethinking even being there. paying customers wanting to get out of there. it is a mess. in these next 72 hours, cyprus officials are very lelia. they are working overtime to contain this mess. let me put it this way. cyprus is no longer an island. cyprus is a tsunami. it scares me customers worldwide. that is what they are hoping to avoid this weekend. it depends on whether they deal with this. going to john brown, and our own nicole petallides on whether they can and will. nicole kno of what she speaks. her parents are from cyprus and she has visited there many times or so. these are wholly times. >> i am so glad that you're painting it in the proper way. this is .2% of europe's gdp. it is a small island and it is being menial to so many. but it paints a picture of what is going on there. which is catastrophic. you go in there and you are talking about confiscating peles
a european government is he seizing the private welt alth of citizens. but it has. we've had two terrific weeks and a pullback on friday, but two terrific weeks that took the dow to 14,500. we're expect the market will come down in the first minutes of business today. down maybe 80, 90 points because of the cyprus situation. whoever thought that we'd be sitting here seeing an obscure island in the mediterranean affect our money so sharply. opening trend is indeed down. here we go, they're opening up the stocks and the dow is now down 48, 50 points, 14,400 we're back to now. and get to individual stocks, three big names and now them, apple, blackberry, boeing, all went up last week and i want to start with apple. according to a new analyst survey, apple set to raise its dividend by maybe more than 50%. it doesn't make any difference, it's down two bucks this morning. now, our partners in all things digital reporting that the blackberry chief told an australia newspaper that the iphone is past its prime. it doesn't make any difference, blackberry is down this morning and boeing's rival airb
the proposals before the end of the week -- i'm sorry, before they left town. they want to keep the government running through september 30. the leadership had anticipated this because there was a dispute. so here we are friday night and the budget is not done. >> how much support is the budget is allusion expected to get? resolution -- it only needs 51 votes. as of this morning, there were four power up or be election in 2014 in that mr. romney one in 2014. -- wion in 2014. they have not yet said whether or not they would vote for that budget. it might be a nailbiter. >> the house passed its budget blueprint. what is the next that in both chambers? >> each chamber will pass a budget. harry reid was added as conference. there'll be effort to try to reach a budget resolution. said something like, what is a point of trying? we are so far apart. the two proposals are vastly different. , in theif anything absence of a presidential budget on capitol hill that the senate democrats and house republicans will use this opportunity to lay out their long-term vision for what the budget should look la ike
be exaggerating slightly. but in all seriousness that the challenges of the government, which will are always going to exist. they seem to be more difficult than they were a decade ago. i am wondering if you can talk about what changed and what can reverse those trends. >> had is my story and i'm sticking to it, that things were perfect. partly, we were dealt with a series of crisis and we had an impeachment crisis, we had the 9/11 attack, we an anthrax attack in my office. when you have crisis like that it brings people together. partly it was the environment and the sicks that we had to confront -- circumstances that we had to cold front. as nk what has changed is she said we would work longer weeks and people were there for longer periods of time. the venues for communication were at hand. she will remember this well. we used to have two lunch tables that were just for senators and you sit family style. people would have lunch together. for whatever reason that lunchroom was closed. we used to have social events where we getting together and one was around our spouses and we would salute
. these are democrats. this is their idea of government. everybody in the country needs to be paying attention to what the democrats and in some cases a handful of republicans are doing. at a time when we should be talking about transparency on the issues of our time. we are simply being brushed aside by imperious and elitist government. just a few days later, lawmakers admitted they were adopting law enforcement officers. imagine not. a month later, they said they wanted to use anned assault weapons. earlier this week, governor cuomo admitted that he had to amend the law. because it bans the sale of this. they didn't even think about that. the idiocy of the whole process is astounding. new report out today saying that governor cuomo is trying to lure the "tonight show" back to manhattan. that is right, nbc with three shows is trying to, well, basically dump the host of one of their three winning shows. these are brilliant people. right and to get the show back to manhattan providing 30 percent tax break if it decides to leave to caper but it is no secret that cuomo likes hollywood but shocking are hi
not like the government isn't assigned to monitor this. >> in 2007 the cdc found these smaller companies have less stringent regulations and lower quality control. there is no doubt this is a major problem that has to be addressed. gerri: you are right in the middle of this. >> i try not to take medications from the smaller pharmaceutical companies, or try to find out where they are coming from and i refuse medication for my compounding company and wait until we can get it from a major company. pity they should be required to get involved and take a load off of some of these companies with less stringent requirements. gerri: i used to be more popular, now they are less popular, growing yet again. now we have 17 state laws making their way through state legislatures to answer to this question, but that can take a long time. what do you recommend consumers to do right now? >> they have to basically check with their doctors, check whether hospitals and see if they can checkout. start raising the questions now. gerri: thank you for coming on. i appreciate your time, thank you. you are used t
-fulfilling prophesy. keep buying on the dip. >> there's one other entity that makes it happen and our government is trying to make it happen. the wealth factor, winning to buy, a lot of bonds every month and those situations, make it a self-fulfilling prophesy and keep driving the market higher and higher. charles: and today the fed gets together and i guess the assumption the printing keeps going? >> no question about it. a market and economy dependent, i guess, but absolutely, they're going to keep printing until they feel they don't have to anymore which is probably a long time away from now. charles: buying the dips, thanks a lot, larry. that's by the way the opening bell, and the markets are ringing, the futures have been up all morning long and let's check the big board. dow up 29 points and ticking away. and the market is up and fedex we talk about that being something of a proxy for the economy. and they reported the numbers this morning and the profits were lower, and maybe people are buying or not shipping as much of the certainly we want to find out what's going on. let's go to nicole
. but in all seriousness let's agree that the challenges in government that will always exist seem to be more difficult to surmount today than they were a decade ago and i'm wondering if you can talk about what has change add whand can reverse those trend. >> that is my story and i'm sticking to it that things were perfect. there were a lot of things. we dealt with a series of crisis. we had an impeachment crisis. we had a 9/11 crisis. we had an an thrax attack in my office. when you have crisis like that it brings people together. i think partly it was the circumstances and the environment we had to confront. devissive had very times. the schedule has changed a lot. we would work longer weeks and people were there for a longer period of time. the venues for communication were much more readily at hand. we had -- we used to have two lunch tables that are just for senators and you'd is it family style and people would have lunch together. and for whatever reason that lunchroom was closed. we used to have social events where we get together and one was around our spouses and we'd salute or spo
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's a holiday here on monday. that would give the government five more days to either get money out of russia or come up with some other way to solve the math here. remember when the end game is. this country asked for 17 billion euros from other european countries and they said we're not going to give you that much. we'll only give you 10 billion euros. we'll help you out with recapitalizing the banks but you guys have to come up with nearly 6 billion on your own and really the only place to get it is in deposits. we saw the parliament reject that last night. here's the one piece of insight that i can give you since being on the ground here. overseas everyone was aghast that would try to tax insured deposits. the vast majority of the cypriots we talk to are aghast at the concept of taxing any deposits even the wealthy. they see it as an attack on the business model of the country. and they don't want that to happen. where do you come up with the money is the question? guys, back to you. >> so many different angles as we go on. they'll take an american credit card. you're using credit cards a
threat that the u.s. government could come after our private bank deposits? yes, i do. they may not confiscate it as cyprus tried to do however there are plenty of ways to get at it. taxes, you're forced to invest in government securities and under the guise of the financial systems, yes, it's a valid concern and the bank defenders will not acknowledge it u and we've got the dow up 39, 40 points at the moment, a shrug from the stock market at the moment. >> yes, it is. stuart: you think this has no impact on the stock market, more on gold and banking stocks, you think? >> i think so, again, what it does, it calls into question the integrity of the financial community and that's what central bankers and legislators fear most. it's not the markets themselves, it's fear of the market and fear of stability because that is what drives confidence and one thing that bernanke can't afford to lose right now. stuart: here is what i think might happen. a no vote, the russians step in, europe says we can't have russia, and they step in. >> i think a power play and progression of events, but
and speaker boehner think otherwise. only 4% said not a problem. and 85% said the federal government should balance the budget just like the average american family. and when asked about the economy, 65% said they have a nervous feeling about the future. only 28% expressed some confidence. but it doesn't seem like washington is listening to all of this. still no budget from the president, spending keeps going up. don't worry though, ben bernanke, as he said yesterday will keep printing. he didn't say in so many words, but he's going to keep printing and the markets are rallying on that news. so we have news this morning on cyprus, it may nationalize private pension money and also, look at this, please. an illegal pot business, that's booming in colorado and washington state and some call it the modern gold rush. coming up at 10:45 this morning, one woman who is cashing in big. her nickname is the martha stewart of marijuana, what she calls herself pushing herself into the legal weed business. that's coming up in our next hour. here we go, markets open in just a couple of minutes. will we hi
. trying to come to terms on keeping the government running. they want to get out of town. connell: one of berkshire hathaway's is here with us. dagen: twitter. seven years old today. happy birthday. connell: happy birthday, twitter. we have the money story behind the games and how it is torn apart. those stories and a whole lot more coming up on "markets now." ♪ dagen: it would also be one of the most famous racecar drivers birthdays of all time. it is top of the hour. nicole petallides is on the floor of the new york stock exchange. nicole: i have to tell you, the markets are pulling back. we hit a record all-time high on the dow jones industrials. only to see us pulling back today once again. the dollar remained higher today. the nasdaq remains down .8%. the dow and s&p are down about .5%. yesterday, we saw a broad-based gains. most of the names were higher. today, we are seeing much of the same. it is the other way around. most of the dow components are lower. ibm, hewlett-packard, intel, a lot of the attack names are leading the way to the downside. connell: going to breaking new
of a compromise before the deadline march 27 to avoid having a government shutdown. dagen: rich edson with the latest. rich: a number of different budget pieces coming into play on capitol hill. congress has to pass a spending measure a week from today. if they don't do that, the government shuts down. we can expect perhaps maybe by this evening the senate will do that and send that back over to the house. congress is set to go to congress next week so they have to get this done to avoid the government shutdown. the house has a budget, the senate has one, the fiscal year starts on october 1 to the ideas the house and senate will pass their budget in the next coming weeks and perhaps in the next coming years we could actually have a budget conference. negotiating one entire budget for the federal government was still working on the same old partisan divide. >> we are all concerned about the impact of the budget cuts. they are senseless and they are ridiculous, we should do away with them. >> the plan we're seeing from the democratic leadership is a failed plan for america. it does not
to go. they want a yes or a no. charles: we have already scene when you have these giant governments, these welfare mentalities, it will cost the average person. we saw it in california. the bottom for everyone to understand is when you have these giant governments, it will cost everyone. that is a true story. it has already happened here. stuart: up until now, if you lend money to a government or a bank with a bond issue-- now cyprus is introducing something different. everybody pays for the bailout that is the difference here. that is the switch that cyprus brings to us. we are now out of time. the dow is up 14. it is a state of flux. let me give it to you, dagen and connell. dagen: wing all or some of your money, i think most people would choose some. connell: thank you, stuart. good morning, everybody. i am connell mcshane. dagen: i am dagen mcdowell. how you can profit. that is straightahead. connell: bracing for a retirement crisis. will lose share problem is a share problem. we are talking about lulu lemon. that stock is lower and it is all because of some see through yoga pan
, government agencies can read them. >> courts have said, lawsuit is very confusing and has permitted the government to search your emails held by providers without a warrant. >> government investigators generally look at email for criminal activity that is not always the case. it became a national debate after c.i.a. director after david petraeus resigned over an extramarital affair. if the c.i.a. can't keep the f.b.i. from reading that email what protections do ordinary people have. >> no warrant knocks records. >> a state senate wanted to clearly define the line. electronic communications should be no different than paper communications. they are all private. >> all we're saying, you need to go to a court, make the case that there is a readable -- reasonable cause that some illegal activity going on. >> drafted by the frontier foundation, it would require state and local government agents to get a warrant to hand over your emails. the companies would have to tell you they did. some providers require a warrant but not all. this wouldn't apply to the federal government. in the past l
with you with the analogy. thanks so much. >> thank you so much. >> markets in the red as cypress governs pushing the vote on a bailout by another day, and the next guest says it's no agree. this is an isolated incident in a country so small with a very small limited economic output it went have an impact. joining us now is paul, president of heritage capital, and, paul, great to have you on the program. i know you heard phil's report on how the commodities markets react, and, yesterday, it seemed like investors were nervous, then calm, and, perhaps today they are nervous because maybe it's not just an isolated incident. maybe there will be a ripple effect more than anticipated. is it time? can you put it in the rearview mirror? >> we heard from the -- the last couple years, whatever it takes, they save the euro. whatever it takes. they are not going to have to load a revolver to save cypress, if they even want to. i think cypress is a one often. there's a lot of air in the markets. up roughly 10% on the year in equity, so, of course, any possible reason to pull some profits off the table
from the european central bank. it has created a solidarity, allowing the government to have power to impose capital controls on the big banks. while worried residents are lining up at atms. joining me now to help me with these developments is leadership for euro pacific capital. let me just start off the bat and ask you, the country has agreed to this solidarity funds. but i can't quite tell if this is the solution that the eu wants. could make good on the threat to kick out cypress? >> anything is possible. you know, i think the outrage over this deposit tax is about the honesty of the approach. if you think about it, citizens around the world suffer from that tax. in the united states, how long havee had 0 #% interest rates in the united states how much money have savers lost who keep money in the bank because they have not received interest on deposits all these years? what about prices? because the federal reserve does quantitative eang, food prices go up, gas prices up, and deposits lose value. ateast with the tax in cypress, it was more honest. the government up front saying
, you're buying a bet that is secure, as we saw the government took some of that away in the financial crisis here in the u.s., the backdrop of our racing a little? >> it certainly shows up in the various qualitative measures that are in here when you ask about how secure is the credit structure, shows up in those measures and the u.s. dropped. david: finally, i assume if they eventually go ahead and confiscate the bank deposits we would at least be above them, am i correct? >> we would be above them, they would drop substantially. david: great to see you, regulations on the report. lauren: sometimes the road to opportunity takes you through other countries. up next, focusing even deeper into the emerging market and the publicly traded companies that stand to make money off of them, money you could be making. stay with us. investor. yeah, i'm a serious investor but i'm busy guy. it used to be easier but now there are more choices than ever. i want to know exactly wh i am investing in. i want to know exactly how much i'm paying. i want to use the same uff the big guys use. find out why
not going to happen. >> talk about big government. >> we have to look at -- can you imagine having the ships and planes hauling off people. i agree that, you know, right now if you really look to the future, we need to have these new workers. we need them for hi-tech jobs but we need them for agricultural jobs. >> your district is a place that, you know, there's been an interesting story about, about the way immigration has worked on long island and it's changed long island in a lot of ways. places have gotten far, far more diverse quite quickly. i remember when i covered the last big immigration fight in 2006-2007, one of the hot spots was in long island partly because things had changed very quickly. there were a lot of day laborers. tensions around day laborers. what are the politics four and your district? >> the politics for me to be very honest with you and i think i have extremely intelligent constituents -- >> as does every member of congress. >> they follow what's going on as far as in the news and everything else like that. but my district, the immigration issue is so diverse. it's
have been really concerned with what's going on, with a government that buys 1.2 billion bullets, hires 16,000 new irs agents, a government that's spent a trillion more than they earn than brought in, it doesn't help. the people in this country who are afraid of losing their rights and liberty, it's scary. stuart: i want debt center stage, and it's not. >> it's not. it should be. it might be likely limited, but it shows there's nothing above political meddling. what used to be taboo is your deposits are safe from taxation. stuart: the time is up, butdagen, connell it's yours. connell: thank you, sir. dagen: if you bail out those depositors, why shouldn't they have to pay something for the bailout? just asking. connell: whole hour to talk about it. connell: good morning, stuart and company told you the bad news from europe is back, and the $13 billion bailout in cypress. they want to pay for it by taxing people's bank accounts. dagen: the president will announce his no , nominee for s secretary. another looks at a man's record over at the justice department. connell: the cyber threats,
the deadline for cyprus. one spokesman for the cypriot government saying the next few hours will determine the future of his country. a couple of consumer reads, popping pre-market on quarterly result the company had in january and nike ends an eight-quarter streak delivering a quarter and the top expectations and shares soaring this morning. for all of you who have been waiting for the z10. the day has come. blackberry available in stores and we'll check in on a store to see how demand is shaping up. >> indexes looking to bounce back after posting their biggest losses in three weeks. wall street keeping a close eye on cyprus where officials are working on another plan to secure the bailout. thises as the mediterranean nation is facing an ultimatum by the central bank. face losing emergency funds for cyprus' banks. this morning the cypriot government spokesman said the next few hours will determine the future of the country. cyprus' finance minister has returned from russia after two days of unsuccessful talks there to reach some sort of funding deal. so that story goes on and it will play
.s. delegation. >> there are more than 132 government delegations there in italy today. the vatican says 33 christian delegations or present as well as jewish, muslim, buddhist. well as jewish, muslim, buddhist. >> we will be ri thyou eat less...ing weiyou lose weight.et. it's a great plan... until you get hungry. that's the time to take slimful. one tasty 90-calorie slimful and a glass of water satisfies hunger for hours making it easier to eat smaller meals, and resist snacking. your friends might think you found the secret to losing weight. but it's no secret... it's slimful. eating less is a beautiful thing. >> good morning. the time ms. 4:10. >> some whales are getting very friendly with the voters off the coast of southern california. >> the gray whales were coming right up to the 50 ft. fishing boat and seemed a curious and friendly. the adult whales about 50 ft. wall state alongside the boat for a long time even rubbing up against the engine. >> they were being very friendly that is good news. a very cool video. >> also in the world news a government panel in japan as increase the f
next on cyprus. erin david is "morningstar"'s expert on international banks on the government's attempt to break into individual bank accounts. coming next she tell us the banks to stay away from who are exposed in this whole thing and whether or not it could ever happen here. sandra: and later this hour, we turn our eyes to fashion and the publicly-traded retail tears that mike -- retailers that might make a good fit for your portfolio. ♪ thank you orville and wilbur... ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it. david: europe was hit by a financial earthquake with the news cyprus was set to confiscate 10% of all bank profit deposits for a bailout. taking income already earned and taxed seems to cross a line only hinted at by wealth taxes in the past. could we see the co
was the federal government is pushing out a new system that's completely automated for the emergency alert system, and that equipment is poorly secured. everyone thought it's no big deal. it's inside the station's network. who is going to get in there? that's the problem. we have to assume the attackers are in the network persistly, and we have to take the critical assets, treat them as the crown jewel, and be smart and stop thinking about fire walls and protecting our outer layer. gerri: doing it the wrong way, you say. thhy sent out fake alerts, which, to me, is squarey because you rely on that emergency alert system to keep you safe. >> yeah, and if we have false alarms on those systems, then people don't pay attention to the real alarms. it's a real problem going back to the issue of we got to stop thinking fire walls and antivirus. the bad guys are in the networks. what are we going to do strategically? differently? a ground changer to be proactive rather than reactive when it comes to protecting our critical infrastructure and our information assets. >> phyllis, you're -- your company is ve
oversight right. federal courts starting to that. >> because of bad policy, the federal government is looking at this. this is a policy that has gone wild. that has -- >> why has it gone wild? >> it is all a numbers game. >> i know it is a numbers game. what i have seen in the trajectory of this is this was happening -- it says something about the way the power works in the city. this was happening in -- every 15-year-old black kid in the bronx and in brooklyn and queens. and in harlem. >> creating so much outrage. >> yes. but why has it taken so long for that outrage to manifest itself? >> as stop and frisks have gone up and up and up in recent years, the outrage is bubbling over to the point where now it is just unacceptable. amount of division that has created between police and community members has gotten to the point i believes the making it less safe for everybody. meanwhile, it is distracting resource. >> in 2009. it wasn't as if it wasn't spoken about and hasn't been spoken about. >> ran in 2009. >> what's occurred over a period of time is the numbers continue to escalate.
with their own sell order what's going on. housing is a big part of the economy but so is government spending. i think government spending is really being ratcheted back here. that's going to be a major focus in the month of april. we'll hear endlessly about government spending coming down. >> the note on oracle this morning, this shows incremental softness in i.t. spending environment. that's weighing on all tech names. ibm is down 1.25%. that's a huge weight on s&p 500 at this hour. a lots of them we are watching in the tech sector. s.a.p. down 2.5%. crm down 1%. it is taking everything down at this point. >> oracle was bad. can't mince words about it. >> was oracle being bad a sign of what's bad in overall tech spending or was oracle bad more of a sign of what's bad at oracle? or both? >> it is a big government provider. dell is, too. that's hurt dell. this was sloppy execution. deliver, deliver, deliver. are they losing share in the cloud? clearly. they won too many nine-figure deals. at the same time the market says i want to buy that weakness. why is lululemon up? they want to buy that wea
to defend an existing discriminatory regime which means it is really a government paying to defend these discriminatory laws. it is e minority groups seeking to challenge it, even though on paper it may look like they are raising a lot of money. in their own cases, it is their own money and it is not tax deductible. sylvester both mcmonkey mcbean anthe star- part of aeetches are privileged class. the analogy in the case of mass incarceration, the privileged class of folks who are not as worried at about being incarcerated. middle toe iddle to -- upper class, wealthy, white, you're not as worried about being stopped, frist, incarcerated but there are groups that benefit even more among the privileged class. i think about the corporate contract that provides prisons with all the have. everybody from victoria's secret to dell computers havhad private contract in prison that benefit from the prison complex. there is a certain group within the privileged class that benefit financially. in many00 cases to keep one person incarcerated. we all live in a state of fear so we opted that cost
plan to cap it and generate piles of revenue for the government. it could pull a rag out from under the market and the homeowners. the latest details you cannot afford to miss. even when they say it is not, it is all about "money." ♪ melissa: all right, first to today's market moment. the raid on deposits sending chills down the spines. the market phone for the second session in a row. the first back-to-back losses nearly a month in case you're keeping track. investors gear may be best reflected in the vix. our top story, the critical situation in cyprus threatening to set off a chain reaction around the world. the european nation wants to tax all bank deposits up to 10% in order to secure a $13 billion bailout for the government. this move is unprecedented, it would basically allow the government to skim the bank accounts of every single person who makes a deposit into a cyprus bank account. if that is not enough, the country has closed all banks until thursday so if the decision is made there will not be anything anybody can do if they have money in the bank. now the world is br
for the next story. members of congress workedded together and passed a bill that will keep the government open for the next six months. who knows what happens in six months though. now the deadline was not tomorrow, and there were no filibusters. they actually compromised. should have sang a song when they were done too. they send the measure to president obama to sign it into law. now, it dips into funding day-to-day operations and provides another $87 billion to military operations, maintains a pay freeze for federal workers, eases impact of sequester on food safety and military aid. you said it couldn't be done, no, i said it couldn't be done. all right. more to come this hour including your next vacation that could cost you a little bit more after a judge's recent ruling. we'll explain, and banks in cypress remain closed, but residents are worried the government is getting set to take their money. next, how potential bank run there is impacting your money here. ♪ thank you orville and wilbur... ...amelia... neil and buzz: by clinging to the past. and with that: you're history. instead of
a bill to avoid a government shutdown to fund agencies through september 30th. senators voted 63-35, in case you're wondering, to limit the debate o legislation. a final vote on the bill could come as early as today. it would be sent to the house for final approval this week. we're going to talk more about the financial issues facing the country with fix the debt. mark burtolini is the ceo and chairman of aetna. >> he said they've -- i think they've done some layoffs. the layoffs were set in place. >> will you combine the white house -- you know, those were shut down with the easter egg hunt. didn't you go on that one year? >> yeah. >> it's starting to dig. it's start to go cut. >> why are people so outraged? >> about the easter egg hunt? >> come on. >> this is one of those things you're not supposed to comment on, right? >> i love easter. >> you really do? >> but you don't have to have it paid for with taxpayer dollars. >> i love the eggs and hiding the eggs. >> it's secular. >> it's in that category. >> you know what it represents. >> it is. >> my birthday is number three, the
and that can be done in a couple of days, you reduce the government's financing demand requirement down to approximately 5 billion euros. because then all your financing are the government deficits. >> adam, thank you so much. >> my pleasure. >> becky, you highlight a really good point. what is very clear from this government and also from the people on the ground that i've spoken with is they absolutely don't want to see a reduction in the sides of the banking system here because they know that is what 50% of the economy and a ton of the jobs, as well. they realize it's going to be a change of livelihood. changes that will happen in this country no matter what are going to be startling to the people here. >> i saw all the headlines coming from russia and the president here making strong comments. is that going to fall on deaf ears in europe? is that not a big deal as far as they're concerned? >> that would be my interpretation, absolutely. would you agree with that, adam? whatever russia says is going to fall on deaf ears when it comes to the troika? >> it doesn't fall on deaf ears. bu
investing. stuart: a government spokesman said this, the next few hours will determine the future of the country. it may be affecting our stock market yet, but it is high desk in a rare. the parliament will have to say yes or no one some very basic issues. will the government seize russian mob money to nationalize private pension plans, let's check cashing and withdrawals. already they have to pay cash for guess where they can find it. to be sure to my credit cards usually do the work, and long lines of the very few atms that work. will the people with their backs against the wall except the sudden and very sharp drop in there standard of living? the small island where politicians are known personally , will they vote to take their money off. a very fluid situation that could go either way. ♪ as we said, the markets at this moment did not seem to care about cyprus. look at this. the dow was up to seven points. 14478. the price of gold. one would have expected gold to go up, but it down six box. why isn't told going straight up? >> i'm just not sure, although we have to put it pr
, but the key question for cypress now, given that this is a brand new government, they've only been in town for three weeks and they made an ex politicsit promise that they wouldn't hit depositors, that's going to be the key issue. can they pass it through parliament? carolin roth is the best person to speak to you about that. >> julia, thank you so much for that. everyone here in cyprus is anxiously waiting for that vote on a very controversial bailout deal. now, i should mention that at this point, the ruling party under the president does not have a clear majority in parliament to be able to push through that controversial vote because press reports are indicating that up to three parties could be voting against that bailout deal because of that deposit tax component. now, the president is currently meeting with the leaders of the political parties. of course, what he's trying to do is to strong arm and to persuade them into voting for that deal because the other alternative, yes, that is bankruptcy for this country, which has only 1 million people and only makes up 0.2% of the entire eu
the consumer. >> we're cautious. we're scared of how the government keeps putting money in people's market. the government trumped 2.4 million jobs and they didn't talk about the 1.9 million people on food stamps and snap program. so we're just very, very cautious. >> you're a new york, l.a. california guy. >> i'm not sure where this is going. >> you're not drinking the kool-aid on the big government? >> no. >> steve, thank you for being here. >> it's been a lot of fun. >> thank you. make sure you join us tomorrow. "squawk on the street" begins right now. ♪ ♪ ♪ >>> good wednesday morning. welcome to "squawk on the street." i'm melissa lee with jim kramer and scott wapner. carl quintanilla and david faber have the week off. let's take a look at how we are setting up in the united states. we are looking at a strong open higher and the dow up at 79 points and yesterday we did see signs of life and the dow surging late in the session and the dow looking to snap that three-day losing streak. as for europe, both stocks and the euro seeing some relief. we do have a bounce here, a nice one,
partitioned out the amount of money that you were supposed to be giveing to the government each though there hasn't been a vote in parliament. why did cypress need a bailout? its banks are bust. the reason the banks in sicypru they bet the greek debt would not be restructured but it was. that's left a lot of them insolvent. the banks in cyprus are huge, eight times the size of the economy. consider that here in the united states. our banking system is roughly one-time the size of our economy. what we're waiting to see next are they going to get this through parliament and get it done? it is so controversial they're trying to find out different ways to make it less controversial. impose the tax on larger shareholders to a much greater degree. it was originally 9.9% and you go to 12%. if you didn't want to tax the small guys at all you'd have to go to 15% or 16%. this is the scene when the president walked into the palace headquarters. there were people there with no written on their hand and this says merkel stole our money. keep in mind, european union will still give them 10 billion e
investigated over a foreign bribery claims. government officials in china, italy and romania were allegedly bribed to earn software contracts but shares of microsoft still managed to close the day up slightly. >>> all right we start tonight in cyprus. the parliament rejected the tax on bank deposits, potentially killing the bailout but russia is floating another option, gazprom, which is russia's state-owned oil company, is reportedly offering exploration rights to the island's rich natural gas fields. here to break it down the former im fsec tiff board member and current visiting fellow at the peterson institute for international economics. doug, welcome to the show. >> thanks. melissa: is there a danger to letting russia really get its hooks in cyprus like that? should we be worried about that? >> absolutely. i mean russia already has its hooks, as you put it, in cyprus because the cypriot economy is largely based, if not almost exclusively based on its status as an offshore banking haven and that has been largely at the behest of russian money. now that's an overstatement to some degree
and we are waiting for a statement now from the government in cyprus. events have been moving very, very quickly on the ground this morning. the finance minister had flown to moscow to wait it out for a negotiation on some form of the deal. but he's since flown back to cyprus this morning empty handed. all he managed to secure was the extension of an existing loan. the onus is now very much on the europeans and what they'll come up with. russian visitors were not interested into buying into the gas reserves. we are now waiting to see what they would come up with a plan to restructure the bank. but this discussion has been delayed and it feels as though this may have happened, some of the europeans, particularly the german webs they had been in this situation saying that they wanted to see out of any proposals, debt sustainability and also bank restructuring. this sustainability has been key because if the cypriots requested any form of a new loan, this would add to the debt burden that they had. the question has always been since the cypriots rejected that tax, how they plug this gap on
business model change, but rates will increase for your customers yet again. the government has created such restriction on the marketplace. it is no longer free market. businesses are finding ways to skirt the laws. they are making full-time employees part-time employees. it does not help the 15 million unemployed. dagen: when president obama said if you like your health insurance, you can keep it. people will be faced with that choice if they work for a small company and they decide to drop coverage. >> that is unfortunately not true, dagen. the fact is that prices should actually go down. insurance companies have a great incentive to actually reduce their rates. there will be more people paying. there will be a very few of us that are not insured. dagen: they cannot charge market rates for people with health conditions. they are limited to what they can charge older people. some people's premiums will go up. younger people, healthier people at small businesses. >> that should not be the case. young healthy people will have a good incentive to get into the market as opposed to paying
, it can't be a crisis because the government isn't doing anything to correct it. they always know best, don't they? let's look at a two-year chart of yields and doing everything pretty much under 2% and lower than that, but here's what's interesting. open the chart up to year to date. tell you what, if you take off the ten-year on the top of the chart and show it to a technician, he's not going to be particularly bullish on this chart and it looks like yields at least for the moment technically have topped and if you look at the boon, it's an exaggerated correction off of its levels of higher yields and indeed it is leading the ways and we've seen the spread between ten-year u.s. and ten-year european boons widen to the widest level in seven, plus years. this is not investment grade and it isn't the barclays spread and this is an etf and it's very enlightening to look at it over the last couple of weeks going back to february because it's creeping up in a way that's similar to stocks. the stocks firm up and the reach for yield is firming up especially when all of that is going on with
it is. local and state governments are cutting back. that's not positive. finally, there is this misquarter evidence. federal express did blow up. it's not a good number. caterpillar is down 12%, retail sales number might not translate into weak earnings. i was prepared for cat sales to be flat, maybe up a little, not down double digits. then oracle. while oracle almost always bounces back, making my chartible stock to want to buy more, i have to believe the m e macroenvironment has gotten worse than we thought. oracle is not that bad a company. you i don't want to get too negative either what could be right? while i don't expect a grand bargain in washington, i think that's off the table, it's always possible if that happens and you're short the market, betting against it or don't have enough stock, you will be left behind. you will be crushed. you short the market we get a grand bargain, one solution, second, the brinkmanship game in europe could get resolved with some solution we don't know about yet that works out. one that is viewed as much less onerous than
bills, including a continuing resolution to keep the government funded. sandra: peter barnes is live in washington for us. peter? >> adam and sandra, the house has done the work and recessed for its easter break. it passed a continuing budget refz solution to keep the government funded through end of fiscal year, in september, avoiding government shut down, which is what all parties want here. that one is headed to the president's desk for his signature. the house also approved as you mentioned on party-line vote paul ryan's republican budget which cuts 4.6 trillion dollars over the next decade to balance the budget in part by repealing obamacare but it is dead on arrival in the democratically controlled senate. >> i would not call the house republican bill balanced. their balance says that the wealthiest americans, the biggest orporations, don't contribute to this problem at all. everything is done on the backs of our middle class families. so, mr. , president, yes, balance is an important word. it is an important word to every family, every community, every american. >> but, that
. people that may have their e- mail and internet surfing monitored by the government. >> anouncer ] ihop is in time square to compare new griddle-melts to your usual breakfast sandwich. a lot more flavor. [ anouncer ] ihop's new griddle melts... made fresh and hot! hand crafted just for you. it's like a sexy sandwich. [ anouncer ] compare new griddle melts yourself. just $4.99. it's an epic breakfast sandwich. >>> warmer today too, daytime highs today will be back in the low 70s. there's no fog on the bay. there's a little bit of wind. small craft advisory. >>> developing news, so far the marine base is not telling us the names of three u.s. marines killed last night in an apparent double murder-suicide. as chily campbell reports, one marine shot and killed two others and then killed hymn. kill -- he killed a man and then a woman and himself. quanco went on lockdown. that lasted four hours before restrictions were lifted. the base commander said all three worked at the officer's candidate school. that's where marines interested in becoming officers do their training. they're not releasin
was rotten to the core. a place for the russians to hide money from the government. if these banks were in the united states they would have been seized a long time ago so any testament to the cluelessness and phony supervision of the brain dead european regulators that it ever got out of hand like this. service. we're in big trouble. who knows? it could happen here probably around the corner. and that's when i blew my top. first, our banks are the best regulated in the world despite what senator elizabeth warren and chief prosecutor -- i'm sorry, chief reporter gretchen morganson from the new york times might tell us. it's not going to happen here and while i think it's always right to worry about the italian banks because they're poorly capitalized, i'm not going to saber rattle and make you fearful of wells fargo or huntington bancorp or first horizon or j.p. morgan. love 40, i say. no, no, game! at that point it was my turn to serve. i had no more patience. to each and every bear and by my account there were a dozen of them, i ask what does the cyprus crisis have to do with the pric
to the federal law that says that the federal government will not recognize same-sex marriages even in states where it is legal. so people, and gay people who are married in new york and new england and all of the states where it is legal, they cannot file joint tax return, and they can't get social security survivor's benefits and if the court upholds doe m s doma all is overturn and if it is overturned then the federal government will have to treat married people like married people. >> does it line up in the court that way as well? >> well, this is always a difficult question is what effect does public opinion have on the justices. the official answer is none. they apply the constitution, and the real world answer is plenty. there are five republicans and four democrats on the supreme court, and that is pretty much all you need to know, and however, one of the republicans is anthony kennedy who has been generally very supportive of gay rights and so many people think that he is going to join the democrats in vetting to overturn doma. >> and neither of us is old enough, but when we are are
of the 21st graders still in newtown school massacre met the government's father in an effort to bring some closure to the tragedy. mother alyssa byrne parker met with adam lanza as father peter lanza for in our hour and asked about his son's medical history and other issues. the parkers six year-old daughter, emilie died in a shooting rampage. the senate has passed a huge spending bill to fund the government through the end of september. the bill will avoid a partial federal shut down at the end of the month. about today in the house with the measure to the president for his signature. it includes funding for the day-to-day operating budgets of every cabinet agency and another $87 billion for military operations in afghanistan and iraq. >> recordings have surfaced of an anti-gay tirade by boat musicians michelle shocked. it was during a sunday night performance intemperances go. >> i am sick of christians and filled with hypocrisy hiding behind a symbol of all crossed. >> after the ranch, the clubyoshi's pull the plug and ended the shows. since sunday, at least 10 venues around the country
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